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Con-Way's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Before we get into the call, I would like to offer a few reminders. First, certain statements in this conference, including statements regarding anticipated results of operation and financial condition constitute forward-looking statement and are subject to a number of risks and uncertainties and should not necessarily be relied upon as predictions of future events. Actual results of operations and financial condition might differ materially from those projected in such forward-looking statements, and no assurance can be given as the future results of operations and financials condition. Additional information concerning factors that could cause actual results and other matters to differ materially from those in the forward-looking statements and the inherent limitations of such forward-looking statements is contained in our Forms 10-K and 10-Q and other filings with the SEC.

Second, today’s prepared remarks contain non-GAAP financial measures. Reconciliations of GAAP to non-GAAP financial measures are found within the financial tables of our earnings release, which is available on our website at con-way.com.

I’d also like to note that we have a lot of people on the call today, so we’d appreciate it if you’d limit yourself to a couple questions then return to the queue.

Now without further ado, I’m pleased to turn it over to Doug Stotlar.

Douglas W. Stotlar

Good morning. On the call today, I’m joined by members of our senior leadership team, including Con-Way’s CFO, Steve Bruffett; Con-Way Freight President, Greg Lehmkuhl; Menlo Logistics President, Bob Bianco; and from Con-Way Truckload President, Herb Schmidt and Chief Financial Officer, Saul Gonzalez. Steve will provide some commentary on our financial picture, and then in the Q&A portion of the call, Greg and Bob will review highlights at Freight and Menlo and Herb and Saul will comment on Truckloads results.

The first quarter reflected strong profits across to all of our business units. The consistent execution of our strategy is yielding the intended results. Our focus has been on the fundamentals improving safety performance, driving efficiency gains through wider adoption of lean practices, improving employee engagement, leveraging technology and increasing price. Our progress in these key areas has driven our margin expansion. These were the building blocks of a quarter’s results and will remain our strategic platform going forward.

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